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Intel to invest ILS 40 bln on new Israeli chip plant

Tuesday 29 January 2019 | 11:11 CET | News
Intel plans to put ILS 40 billion on a new chip-making factory in Israel, Reuters reported, citing Israeli Finance Minister Moshe Kahlon. The minister said Intel has informed them about its decision to invest more in Israel, a decision that is expected to bring thousands of jobs to the south of Israel. The news follows a commitment by Intel in May 2018 to invest about ILS 18 billion to upgrade its existing factory in the southern Israeli city of Kiryat Gat between 2018 and 2020. That agreement had included a promise by Intel to spend ILS 3 billion on local suppliers.

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Categories: IT / Mobile & Wireless
Companies: Intel
Countries: Israel
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